LOS ANGELES, Nov. 07, 2019 (GLOBE NEWSWIRE) -- via NetworkWire – Cannabis Strategic Ventures (OTCQB: NUGS) (“the Company”), in response to notice received from OTC Markets, issues the following comments to provide notice of unauthorized promotional activity concerning the Company’s common stock traded on the OTCQB Market.
On November 4, 2019, the Company first became aware of, upon receipt of notification from OTC Markets, third-party promotional activities concerning the Company’s common stock. Prior to being contacted by OTC Markets, the Company was neither aware of any such promotional activities, nor had it engaged or authorized such promotional activities by any third party. The Company conducted an inquiry and determined that neither the Company, nor any Company director, officer, beneficial owner of 10% or more of the Company’s common stock, nor third-party service provider, has been involved either directly or indirectly, with the authorization, creation, distribution, or payment for these third-party promotional emails. The Company is unaware of any effect the unauthorized promotional activities, including third-party promotional emails, may have had on recent trading of the Company’s common stock on the OTCQB Market.
No Company officer, director or beneficial owner of 10% or more of the Company’s common stock, nor any third-party provider, has purchased or sold any Company shares within the last 90 days. All common shares held by Company officers, directors, third-party providers and beneficial owners of 10% or more of the Company’s common stock are restricted.
The Company learned from the information provided by OTC Markets that entities using the names “Stockwire News,” “007 Stock Chat,” and “SmallCap Firm” published emails distributed via the internet touting the Company and its business and recommending the purchase of the Company’s common stock. The information provided to the Company by OTC Markets reflect a Monday, November 4, 2019 date for the unauthorized third-party email publications, and publicly available trading data reveals that the price of the Company’s common stock increased on Monday, November 4, 2019. The Company has no direct or indirect knowledge of the promotional activities. The statements in these publications did not come from, nor were they paid for, approved or otherwise authorized by the Company, its officers, directors or any beneficial owners of 10% or more of the Company’s common stock. The Company rejects and disclaims knowledge of all unauthorized third-party representations and opinions about the Company, wherever and by whatever means published, including the content and opinions expressed by the entities using the names “Stockwire News,” “007 Stock Chat,” or “SmallCap Firm,” of and about which the Company neither sanctioned, paid for, or had prior knowledge.
The Company releases its press through NetworkNewsWire, a corporate communications firm that publishes news releases authorized and approved by the Company. The Company’s public relations employee is Arlene Guzman. Patrick Grimm, from FN Media Group provides additional support for the dissemination of our sanctioned press releases. During the past 12 months, the Company only has engaged the following investor relations, public relations and marketing related services in connection with its investor outreach efforts: FN Media Group, LLC; NetworkNewsWire; Meridian Ventures, LLC; and San Diego Torrey Hills Capital, Inc. None of these four firms has knowledge of or information regarding the unauthorized promotional activities referenced above.
READERS ARE STRONGLY CAUTIONED to rely ONLY on press releases that the Company issues and filings that the Company makes with OTC Markets and makes available on the Company’s website. Information published and authorized by the Company for publication does not recommend the purchase, sale or holding of the Company’s securities. READERS ARE STRONGLY CAUTIONED that there are many unsanctioned, unauthorized and non-compliant content publishers who may be touting a buy, sell or hold position on the Company’s stock using false and misleading representations for unlawful purposes. Some of the publication media used by such publishers may include internet chat rooms, message boards, video charts and video press releases. Persons who publish false and misleading information on the internet may be increasing or decreasing their share positions in a security, regardless of the content of what they are posting, and may be compensated in some way from unknown third-parties who are in no manner known to, or affiliated with, the Company.
The Company has not issued shares or convertible instruments allowing conversion into equity at prices constituting a discount to the current market at the time of issuance or conversion.
About Cannabis Strategic Ventures
Cannabis Strategic Ventures Inc. (OTC: NUGS) is one of the largest publicly traded marijuana cultivators in the United States. The Company is Los Angeles-based that incubates, develops and partners with category leaders within the cannabis and ancillary sectors. The Firm's NUGS brand experience provides operational and financial strategic partnerships and a range of essential services to emerging and existing Cannabis consumer brands. For more information, visit http://www.CannabisStrategic.com
FORWARD-LOOKING STATEMENTS: This release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements also may be included in other publicly available documents issued by the Company and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management's current expectations or plans for our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "would," "could," "will" and other words of similar meaning in connection with a discussion of future operating or financial performance.
Examples of forward-looking statements include, among others, statements relating to future sales, earnings, cash flows, results of operations, uses of cash and other measures of financial performance.
Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the Company's actual results and financial condition to differ materially from those expressed or implied in the forward-looking statements. Such risks, uncertainties and other factors include, among others such as, but not limited to economic conditions, changes in the laws or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this release should be considered with these factors in mind. We assume no obligation to update any forward-looking statements contained in this report.